Sanmina Beats Estimates With Revenue Gain

Published August 1, 2011

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SAN FRANCISCO -- Sanmina SCI Corp. beat Wall Street's earnings forecast for its first fiscal quarter with a small double-digit gain in revenue. For the quarter ended Jan. 1, Sanmina reported net income of $28 million, or 34 cents a share, compared to net income of $59 million, or 74 cents a share, for the same period the previous year. Earnings on a non-GAAP basis were $37 million, or 45 cents a share, for the recent period. Revenue rose nearly 13% to $1.66 billion. Analysts were expecting earnings of 41 cents a share on revenue of $1.65 billion, according to consensus estimates from FactSet Research.